Senior Life Insurance Company Info

[jacobtn]

There's still not enough inventory of SR/LH here in TN, or jacobtn's knocking them all off before I find them.

Send more who follow your business model up here in East TN please.

Haha I don't think they do mailings around here anymore because my agents or myself have been fortunate to find many of them within 6 months of issue.

I usually get at least 1 phone call a week from a crybaby agent. If they didn't sell junk then they wouldn't have anything to cry about but then I wouldn't have anything to replace I guess I shouldn't be complaining.

 

[rousemark]

Can we also throw a couple of full time independents, say with EFES and Securus in the mix? Would be interesting to see..

 

[Rearden]

The SL/LH agents call YOU to complain? Wow, how tasteless -- I'd be begging for a contract.

Haha I don't think they do mailings around here anymore because my agents or myself have been fortunate to find many of them within 6 months of issue.

I usually get at least 1 phone call a week from a crybaby agent. If they didn't sell junk then they wouldn't have anything to cry about but then I wouldn't have anything to replace I guess I shouldn't be complaining.

 

[WinoBlues]

Can we also throw a couple of full time independents, say with EFES and Securus in the mix? Would be interesting to see..

I am betting on the one with biggest set.

 

[RonRoberts]

I am betting on the one with biggest set.

Awe man, Lynda Carter was the bomb, and I was 8 or so. Her and Farrah Fawcett was a reason to watch tv.

 

[gordon112]

What a BS argument.. How many SL agents "own" an insurance company? Do you?: There are many companies that have been started by an insurance agent that have done as well as SR Life.. Continental Life of Brentwood (AmCon) is one that readily comes to mind.. it was started by Randall Baskin.. And, unlike SL, it has managed to secure an A rating from AMBest

Continental Life was a great company by the way, untill they sold out to GE. They kept there Med Sup rates very low for years.

 

[jacobtn]

The SL/LH agents call YOU to complain? Wow, how tasteless -- I'd be begging for a contract.

Yeah they are unreal. The captive Monumental agents are the worst, however (the ones serviced out of the Baltimore office). Be prepared for an all out war if you replace their overpriced garbage.

I actually replaced a modified policy they wrote a man who had heart stents 4 yrs ago with LEVEL coverage through Americo. They sent a lady who only had her ins license 4 years (I know because I looked her up on the DOI site- she was at the house when I went to deliver it!) She was so stupid, at one point I had to ask her how long she had been licensed. She wouldn't tell me so I looked it up on my Droidphone haha.

The lady kept referring to the contestable period, saying they wouldn't be covered for 2 yrs. I asked her if she was accusing the clients of lying, because unless they lied about their health they would be covered, and I was replacing a modified policy, which was only in force 6 months and would definitely NOT pay the Death Benefit.

I made her look foolish and was able to keep my coverage in force, which was immediate level coverage and several thousand dollars more in benefit vs. Modified. Their daughter was in the home as well and she could tell the lady from Monumental was full of $hit. I replaced several older policies they had with them as well so I guess they called her in.

Got a $1300 chargeback a few weeks later... they let her back in two weeks later, and she convinced them that they were better off paying more for less coverage. She told them I lied about their health, which was untrue, they qualified and passed underwriting. The agent wrote a letter to americo and had them sign it, falsely saying I lied on the app about their health and said I had falsely represented myself as being an agent with Monumental... which was actually true, indy not captive.

Pissed me off... she harmed the clients and costed me $1300 plus the back 3 months. They couldn't read or write or I think it might have gone differently.

It's ok... Can't win em all... I'm sure JD has had similar situations.
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Continental Life was a great company by the way, untill they sold out to GE. They kept there Med Sup rates very low for years.

They are way better now then they were were before Genworth bought them. They were a joke back then, trust me... They cancelled contracts for no reason and kept agents renewals if they didn't sell enough OTHER products (wasn't enough just to sell Med Supps!) The wording in their contracts allowed them to cancel your contract for any reason, and keep agents renewals. They did this to me as well, and I was sending them 4-5 apps a month but no life business.

Totally different company now, awesome group of guys up there and competitive rates. I knew the regional marketer before he went to work up there, along with the CFO, and they are straight shooters and top notch individuals. The only problem with them now is they are getting too much business!

 

[theinsuranceman]

What a BS argument.. How many SL agents "own" an insurance company? Do you?: There are many companies that have been started by an insurance agent that have done as well as SR Life.. Continental Life of Brentwood (AmCon) is one that readily comes to mind.. it was started by Randall Baskin.. And, unlike SL, it has managed to secure an A rating from AMBest

You are mistaken. They have offered shares of SL stock to their agents, even agents who have less than 30 days experience, for several years now. What other FE Co. does that?

People up here complain about LH, SL, EFES, Securus, etc. all the time. I could give a rat's a_ss if another Co.had cheaper premiums or higher premiums, paid death claims within 24 hours or paid death claims in 60-90 days, paid less comm. on their MDB plans, etc., etc.

All I know is that SL and the Powells are a great fit for me. If they weren't I'm good enough that I can go to any Co. I wish and thrive. If I want to up and order 50 FRESH EXCLUSIVE leads one week I can have them in my possession within 24 hours, sooner if the lead dept. is not too busy when I call. What other Co. can do that?

The Powells are on the cutting edge of FE sales/marketing. They were the 1st group in the country to start FE tele-sales in 2002. Some Co.'s have tried to duplicate tele-sales, some have failed and some have done well. (Kinda like some FE agents bto well and some starve).

What other FE Co.'s have ads in the yellow pages of phone books in several markets around the country? This is a lead where someone went to the yellow pages of their phone book looking under the insurance heading. What more could a FE agent ask for? Heck, even Newby, a well rerspected forum member (and rightly so I might add) commented one time last year that the yellow page lead looked pretty good.

Their premiums are usually higher than most FE Co.'s......just like LH. But who cares? The way people up here pound their chest and brag because they replaced a LH or SL policy....well....they sound as if this is their 1st sale in 2 weeks.

If higher premiums caused a lot of replacements, how in the world did LH become such a FE giant? They're less than 50 years old but they out produce any other FE Co. in the country from everything I'm hearing (on this forum and elsewhere).

And higher premiums have never resulted in me having a higher than ave. charge-back situation. I've interviewed agents who wrote for co.'s like RNA and Foresters and Oxford, they have very cheap premiums you know, and the agent I'm interviewing would be having all kinds of charge-back problems, even though they were placing the biz with CHEAP PREMIUM Co.'s. Further proof that the cheaper premium can have as much charge-back activity as a higher premium.

We live in a "capitalistic" society. One of the basic laws of economics says "charge what the market will bear". LH, SL, and a few others do that, and probably make more profit per app than cheaper premium co.'s.

SL has recently come out with a 10 year MDB term product. It blows AARP out of the water! This 10 yeat MDB term was designed strictly to compete with the AARP 5 yr. term that everyone up here complains about. What other FE Co. is being proactive to compete with AARP like this?

Some of the closing ideas I share occasionally up here, that most of you seem to appreciate, came from the Powells's FE training and SL. I only say that to let you know they do support their new agents, and experienced agents, with constant training.

Seems like this forum would put more $$$ in all of our pockets if we used it to exchange ideas instead of trying to figure out how to sound important criticizing another Co. (Aren't the complainers, from your own personal experience, the agents who failed and are blaming the Co., blaming the leads, blaming their mgr., blaming the weather, blaming....etc....etc...?)

Long post (I make no apologies for it because you didn't have to read it) but I needed to help set the record straight for the people who don't really have a clue.

 

[gordon112]

Yeah they are unreal. The captive Monumental agents are the worst, however (the ones serviced out of the Baltimore office). Be prepared for an all out war if you replace their overpriced garbage.

I actually replaced a modified policy they wrote a man who had heart stents 4 yrs ago with LEVEL coverage through Americo. They sent a lady who only had her ins license 4 years (I know because I looked her up on the DOI site- she was at the house when I went to deliver it!) She was so stupid, at one point I had to ask her how long she had been licensed. She wouldn't tell me so I looked it up on my Droidphone haha.

The lady kept referring to the contestable period, saying they wouldn't be covered for 2 yrs. I asked her if she was accusing the clients of lying, because unless they lied about their health they would be covered, and I was replacing a modified policy, which was only in force 6 months and would definitely NOT pay the Death Benefit.

I made her look foolish and was able to keep my coverage in force, which was immediate level coverage and several thousand dollars more in benefit vs. Modified. Their daughter was in the home as well and she could tell the lady from Monumental was full of . I replaced several older policies they had with them as well so I guess they called her in.

Got a $1300 chargeback a few weeks later... they let her back in two weeks later, and she convinced them that they were better off paying more for less coverage. She told them I lied about their health, which was untrue, they qualified and passed underwriting. The agent wrote a letter to americo and had them sign it, falsely saying I lied on the app about their health and said I had falsely represented myself as being an agent with Monumental... which was actually true, indy not captive.

Pissed me off... she harmed the clients and costed me $1300 plus the back 3 months. They couldn't read or write or I think it might have gone differently.

It's ok... Can't win em all... I'm sure JD has had similar situations.
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They are way better now then they were were before Genworth bought them. They were a joke back then, trust me... They cancelled contracts for no reason and kept agents renewals if they didn't sell enough OTHER products (wasn't enough just to sell Med Supps!) The wording in their contracts allowed them to cancel your contract for any reason, and keep agents renewals. They did this to me as well, and I was sending them 4-5 apps a month but no life business.

Totally different company now, awesome group of guys up there and competitive rates. I knew the regional marketer before he went to work up there, along with the CFO, and they are straight shooters and top notch individuals. The only problem with them now is they are getting too much business!

They totally destroyed the MI market when they did the transfer, the rates when up 30% and more the years after. I never had any issues with the commissions but I was a regular producer.

 

[jacobtn]

Greg, I hope more agents sell Sr Life and LH. My wife enjoys her new car, ability to stay home with the kids, relaxing by the pool with her friends... paid in part by the good ol boys down in Thomasville for paving the way for her hubby and his agents... haha

I wish all the LH agents the best of success, as well as AARP, Globe, Liberty National, and all the other high priced carriers. Makes my job a little easier, and gives me a spring in my step.
Always easier to use premium dollars they are already spending, rather then making them spend new dollars.

Go get em tiger

You are mistaken. They have offered shares of SL stock to their agents, even agents who have less than 30 days experience, for several years now. What other FE Co. does that?

People up here complain about LH, SL, EFES, Securus, etc. all the time. I could give a rat's a_ss if another Co.had cheaper premiums or higher premiums, paid death claims within 24 hours or paid death claims in 60-90 days, paid less comm. on their MDB plans, etc., etc.

All I know is that SL and the Powells are a great fit for me. If they weren't I'm good enough that I can go to any Co. I wish and thrive. If I want to up and order 50 FRESH EXCLUSIVE leads one week I can have them in my possession within 24 hours, sooner if the lead dept. is not too busy when I call. What other Co. can do that?

The Powells are on the cutting edge of FE sales/marketing. They were the 1st group in the country to start FE tele-sales in 2002. Some Co.'s have tried to duplicate tele-sales, some have failed and some have done well. (Kinda like some FE agents bto well and some starve).

What other FE Co.'s have ads in the yellow pages of phone books in several markets around the country? This is a lead where someone went to the yellow pages of their phone book looking under the insurance heading. What more could a FE agent ask for? Heck, even Newby, a well rerspected forum member (and rightly so I might add) commented one time last year that the yellow page lead looked pretty good.

Their premiums are usually higher than most FE Co.'s......just like LH. But who cares? The way people up here pound their chest and brag because they replaced a LH or SL policy....well....they sound as if this is their 1st sale in 2 weeks.

If higher premiums caused a lot of replacements, how in the world did LH become such a FE giant? They're less than 50 years old but they out produce any other FE Co. in the country from everything I'm hearing (on this forum and elsewhere).

And higher premiums have never resulted in me having a higher than ave. charge-back situation. I've interviewed agents who wrote for co.'s like RNA and Foresters and Oxford, they have very cheap premiums you know, and the agent I'm interviewing would be having all kinds of charge-back problems, even though they were placing the biz with CHEAP PREMIUM Co.'s. Further proof that the cheaper premium can have as much charge-back activity as a higher premium.

We live in a "capitalistic" society. One of the basic laws of economics says "charge what the market will bear". LH, SL, and a few others do that, and probably make more profit per app than cheaper premium co.'s.

SL has recently come out with a 10 year MDB term product. It blows AARP out of the water! This 10 yeat MDB term was designed strictly to compete with the AARP 5 yr. term that everyone up here complains about. What other FE Co. is being proactive to compete with AARP like this?

Some of the closing ideas I share occasionally up here, that most of you seem to appreciate, came from the Powells's FE training and SL. I only say that to let you know they do support their new agents, and experienced agents, with constant training.

Seems like this forum would put more $$$ in all of our pockets if we used it to exchange ideas instead of trying to figure out how to sound important criticizing another Co. (Aren't the complainers, from your own personal experience, the agents who failed and are blaming the Co., blaming the leads, blaming their mgr., blaming the weather, blaming....etc....etc...?)

Long post (I make no apologies for it because you didn't have to read it) but I needed to help set the record straight for the people who don't really have a clue.

- - - - - - - - - - - - - - - - - -

They totally destroyed the MI market when they did the transfer, the rates when up 30% and more the years after. I never had any issues with the commissions but I was a regular producer.

I agree they did jack rates way up right after the purchase. They have lowered them drastically in a few states, but time will tell if they can keep them down.